Home » Markets » Mark Cuban-backed money app ‘Dave’ now trading
Mark Cuban-backed money app ‘Dave’ now trading
Mark Cuban: Taxing unrealized gains would be a ‘disaster’
Mark Cuban, the billionaire owner of the Dallas Mavericks, blasts Sen. Elizabeth Warren, D-Mass., for demonizing the wealthy.
The banking app "Dave," backed by Dallas Mavericks owner Mark Cuban, began trading on the Nasdaq on Thursday, after completing its announced merger with special purpose acquisition company VPC Impact Acquisition Holdings III, Inc.
After the business combination was approved by VPCC's stockholders earlier this week, VPCC changed its name to "Dave Inc," and now trades under the symbol, DAVE.
VPC IMPACT ACQUISITION HOLDINGS III INC.
"We are thrilled to partner with VPCC and our new board of directors as we continue our mission to build products that level the financial playing field," Dave co-founder and CEO Jason Wilk said in a statement announcing the news. "This new influx of capital will allow us to invest in our business and in turn, help more people living paycheck to paycheck who traditional banking system has failed to support. We’re looking forward to hitting the ground running."
The deal included a private investment in public equity of $210 million led by Tiger Global Management with participation from Wellington Management, Corbin Capital Partners, and Alameda Research, Dave said in a press release.